MOSCOW, September 19 (RAPSI) – Billionaire Vladimir Yevtushenkov, the board chairman and largest beneficiary of Russia’s largest publicly-traded diversified holding company AFK Sistema, has been released from house arrest, reads the company's statement released on Friday.
Yevtushenkov has been charged with money laundering under a case on alleged embezzlement and money laundering during the sale of Bashneft to Sistema in 2009. The court ruled that he be placed under house arrest in his mansion near Moscow until November 16. The decision has not yet become effective.
Sistema said the charges were unfounded and that it would use all available legal options to settle the conflict.
Sistema is one of Russia’s top 10 companies by revenue. Its largest assets are mobile operator MTS (a 53.5% stake) and Bashneft (89%).